To say that Samsung has an outsized impact on South Korea would be an understatement. It's an ubiquitous entity in the country, and while it's best known globally for its smartphones, appliances, TVs, and other gadgets, it does everything from construction to textiles, and more in its home country. It's consistently been one of the most sought after places to work at for new graduates.
Samsung Electronics, the division that makes those smartphones, appliances, and other consumer devices, tends to perform very well with the domestic market. A new report has revealed that the company has topped domestic sales in South Korea for 22 years straight.
Samsung Electronics remains the company to beat
A new industry analysis report has revealed that Samsung Electronics has been number one in annual sales among all South Korean companies from 22 years straight, straight from 2002 and running straight through to 2023.
Corporate data firm Korea CXO Institute reported that Samsung ranked first in sales for every year that's passed since 2002. The report was based on the top 50 listed companies by annual sales, and Samsung beat out the entire lot.
Samsung Electronics' domestic sales have surged to 170.4 trillion won ($116 billion) in 2023. While it has remained at the very top for more than two decades, six other local companies have kept a place in the top 50 throughout all this time. They include Hyundai, LG, Samsung C&T, LG Chem, Hyundai Engineering, and Korean Air. Nevertheless, none of them have yet been able to dethrone Samsung Electronics.
